Venezuela's President Nicolas Maduro requested the nation's driving bank, Banco de Venezuela, to simply acknowledge the country's cryptographic money, the Petro (PTR) in any regard of its branches, the nation's Finance Ministry tweeted on July 4.

As per the tweet, Maduro gave "the express request to open Petro work areas inside and out the parts of the Bank of Venezuela." The declaration obviously came all through an event praising the tenth commemoration of the nationalization of the bank being referred to.

On June 19, Maduro declared that 924 million bolivars (over $92.5 million) were allotted to the Digital Bank of Youth and Students to open a million Petro wallet accounts for the country’s youth. José Angel Alvarez, leader of the nation's National Cryptocurrency Association, remarked to digital currency news outlet CCN:

“It may be a daring and proper call to move forward towards a hybrid economy wherever the fiduciary currency of a rustic competes for face to face with cryptocurrency.”

As Top Market Group reported in January, Venezuela has taken issue with U.S. sanctions, as well as those levied specifically against transactions within the country’s national digital currency, the Petro. In March, President Trump prohibited U.S. citizens from shopping for Petro.

In May, news broke that Venezuela is considering closing mutual trade settlements with Russia utilizing the ruble.

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